The Survey of Terms of Business Lending collects data on
gross loan extensions made during the first full business
week in the middle month of each quarter. The authorized
panel size for the survey is 348 domestically chartered
commercial banks and 50 U.S. branches and agencies of
foreign banks. The sample data are used to estimate the
terms of loans extended during that week at all domestic
commercial banks and all U.S. branches and agencies of
foreign banks. The terms on loans extended during the
survey week may differ from those extended during other
weeks of the quarter. The estimates reported here are not
intended to measure the average terms on all business loans
in bank portfolios.

Footnotes

1.
As of December 31, 2014 , assets of the large banks were at
least $4.8 billion. Median total assets for all insured
banks were roughly $171 million. Assets at all U.S.
branches and agencies averaged 11.1 billion.

2.
The "maturity/repricing" interval measures the period from
the date the loan is made until it first may be repriced
or matures. For floating-rate loans that are subject to
repricing at any time--such as many prime-based loans--the
maturity/repricing interval is zero. For floating-rate
loans that have a scheduled repricing interval, the
maturity/repricing interval measures the number of days
between the date the loan is made and the date on which it
is next scheduled to reprice. For loans having rates that
remain fixed until the loan matures (fixed-rate loans), the
maturity/repricing interval measures the number of days
between the date the loan is made and the date on which it
matures. Loans that reprice daily mature or reprice on the
business day after they are made. Because of weekends and
holidays, such loans may have maturity/repricing intervals
in of more thanone day; nevertheless, such loans are not
included in the 2 to 30 day category.

3.
A complete description of these risk categories is available
in the survey instructions, available at
http://www.federalreserve.gov/apps/reportforms/reportdetail.aspx?sOoYJ+5BzDaSCesXTb1UmHCoyU8rIHWr.
The category "Moderate risk" includes the average loan,
under average economic conditions, at the typical lender.
The "Other" category includes loans rated "Acceptable"
as well as special mention or classified loans. The
weighted-average risk ratings published for loans in rows
31-39 are calculated by assigning a value of 1 to minimal
risk loans, 2 to low risk loans, 3 to moderate risk loans,
4 to acceptable risk loans, and 5 to special mention and
classified loans. These values are weighted by loan amount
and exclude loans with no risk rating. Some of the loans in
table rows 1, 6, 11, 16, 21, 26, and 31-36 are not rated for
risk.

4.
Effective (compounded) annual interest rates
are calculated from the stated rate and other terms of the
loans and weighted by loan amount. For the standard error
of the loan rate for all C&I loans in the current survey
(tables 1-5, line 1, column 1), see the summary statistics
table. The chances are about two out of three that the
average rate shown will differ by less than this amount from
the average rate that would be found by a complete survey of
the universe of all banks.

5.
Average maturities are weighted by loan amount and exclude
loans with no stated maturities.

7.
The terms "syndication" and "participation" encompasses a
variety of arrangements among institutions to make loans.
When each participating lender agrees in advance to fund and
be at risk only up to a specified percentage of the total
credit and the contract is executed by all participants and
the borrower, the arrangement is often referred to as a
syndication. When a lead lender originates the transaction
and is the only party to the contract with the borrower and
sells shares as prearranged with others, the arrangement is
referred to as a participation. All loans made under either
arrangements, whether or not the lender is the originator,
are included.

8.
For loans made under formal commitments, the average time
interval between the date on which the loan pricing was set
and the date on which the loan was made, weighted by the
loan amount. For loans under informal commitment, the time
interval is zero.

9.
Prime-based loans are based on the lending bank's own prime
rate, any other lender's prime rate, a combintation of
prime rates, or a publicly reported prime rate. Loans with
"other" base rates include loan rates expressed in terms of
any other base rate (e.g., the federal funds rate or LIBOR)
and loans for which no base rate is used to determine the
loan rate.

10.
See the summary statistics tables for the average reported
prime rate weighted by the dollar value of loans priced
relative to a prime base rate.